The acquisition of the bwin.party Group by 888 Holdings is no longer the secure deal that it seemed to be back in July, as JP Morgan and Barclays decided to put on hold the syndication of a $650 million-equivalent covenant-lite leveraged loan financing to back 888 Holdings.
"The last two offers from GVC and the way the company decided to drop Amaya Gaming to advance in the negotiations have been a real game changer in the acquisition process," a Barclay's representative told PokerNews. "Today, the situation is no longer as clear as it was on July 17.